Shadowfax Q2 FY27: Revenue Surges 57% to ₹1,538 Cr, Achieves 5% Adj. EBITDA Margin
Shadowfax Technologies reported Q2 FY27 revenue of ₹1,538 crore, up 57% YoY. Adjusted EBITDA margin reached 5%. The company expanded capacity and delivery partners, with D2C business doubling YoY. New initiatives include micro-fulfillment centers. Long-term revenue growth guidance remains 27-30% CAGR.
The substantial revenue growth, achievement of key financial milestones (first time crossing ₹1,500 Cr revenue and 5% EBITDA margin), and strategic expansion into new business areas like micro-fulfillment centers are significant developments that are likely to have a high impact on the company's market position and investor perception.
The company reported strong financial performance with significant year-on-year revenue growth and achieved a record-high adjusted EBITDA margin. Positive outlook and new strategic initiatives like MFCs further contribute to the positive sentiment.
Shadowfax Technologies Limited announced its Q2 FY27 earnings, reporting a significant milestone with revenue crossing ₹1,500 crore for the first time, reaching ₹1,538 crore, a 57% year-on-year increase. The company also achieved a 5% adjusted EBITDA margin, marking another first. This growth was achieved despite the absence of the typical sales season revenue in Q2.
The company highlighted its strategic focus on speed as a key differentiator in the logistics market. Innovations like "Prime" for same-day/next-day delivery and the ability to pick up from small sellers' locations for marketplace delivery have driven market share gains. The Direct-to-Consumer (D2C) business has more than doubled year-on-year, now holding over 14% of the market share. Shadowfax 360, the self-serve platform for small sellers, has rapidly scaled, acquiring over 6,700 sellers.
Financially, Express Parcel business generated ₹1,096 crore with 55% YoY growth, while Hyperlocal revenue grew 88% YoY to ₹341 crore, with improved economics. Other logistics services contributed ₹100 crore. The company undertook significant capacity expansion, increasing its operating space to 69 lakh sq ft and ramping up its delivery partner network by 31% to 3.8 lakh partners.
Looking ahead, Shadowfax is entering the micro-fulfillment center (MFC) business to hold brand inventory closer to demand, aiming for 8-12 hour delivery promises. This initiative, along with continued investment in AI for network optimization, is expected to drive future growth. The company reaffirmed its long-term revenue growth guidance of 27% to 30% CAGR.
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